Multifamily developer confidence heading into Q3 and Q4 of 2023 remains upbeat, even though the market is experiencing a highly competitive landscape and higher-than-expected costs in land, labor, and construction materials.
Many also see strength continuing into next year – in both value-add or new construction.
"Because the assets continue to provide a strong NOI, there is room for planned CapEx spending and continued development opportunities," Ira Singer, Founding Partner at Mosaic Construction, tells GlobeSt.com.
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